Fundamentals of Accounting
Book Title: Fundamentals of Accounting Author(s): The Institute of Cost Accountants of India Summary: This book provides a foundational understanding of financial and cost accounting, especially designed for students pursuing accounting, finance, or cost management. Key Areas Covered: 1. Fundamentals of Financial Accounting: Nature and scope of accounting Accounting principles, concepts, and conventions Double-entry system and accounting cycle Journal, ledger, trial balance 2. Accounting Basics: Rules of debit and credit Types of accounts Preparation of subsidiary books Cash book and bank reconciliation statements 3. Accounting for Special Transactions: Bills of exchange Consignment and joint ventures Depreciation accounting Rectification of errors 4. Preparation of Final Accounts: Trading, Profit & Loss Account Balance Sheet Adjustments in final accounts (e.g., closing stock, outstanding expenses) 5. Fundamentals of Cost Accounting: Concepts and classification of costs Cost s...
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